The CAS Institute: A Place for Property Casualty Quantitative Professionals to Call Home
Rob Walling

The CAS Institute: A Place for Property Casualty Quantitative Professionals to Call Home

Rob Walling November 23, 2015 Posted in: Blog Posts, Predictive Analytics
On Monday November 16, 2015, the Casualty Actuarial Society announced the formation of the CAS Institute, “an organization offering new credentials and specialized professional education for quantitative professionals.”

The CAS Institute, or iCAS, will initially focus on testing and credentials for professionals in specialty areas such as predictive analytics, data science and catastrophe modeling. As part of this announcement, the CAS also announced a partnership with The Institutes, “a leading provider of professional education for the risk management and property-casualty insurance sector.” The creation of iCAS and the partnership between the CAS and The Institutes represent a fundamental change for the CAS in at least three ways.

Actuaries have long been working alongside other quantitative professionals, including catstrophe modelers, predictive modelers and many others. Many of these professionals have taken actuarial exams at some point before their careers moved in a different direction. The iCAS will provide rigorous, consistent educational content that will be recognized and valued by employers. Members of iCAS will now have a way to remain connected to the CAS, form communities with other professionals in the same specialty, contribute to call paper programs and speak at continuing education conferences.

The partnership of the CAS and The Institutes combines their best practices in the delivery of professional educational content. The CAS has been providing educational content and credentialing exams for property-casualty actuaries for over 100 years. Similarly, The Institutes’ have delivered content and testing for a wide variety of professional credentials, including the CPCU and ARM, for over a century. The Institutes use of technology via test centers also presents a significant advantage to this partnership.

The coordination between the CAS and The Institutes offers property-casualty insurance professionals seamless coordination of a wide array of designations, leading edge research, and continuing education opportunities. In a world of data driven decision making, this coordination is increasingly important. As a result, the divisions between underwriters, product managers, data scientists, predictive modelers, and actuaries should diminish. The CAS Institute provides this community a place to call their own.

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